West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. boosted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 18.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 989,374 shares of the company’s stock after buying an additional 153,600 shares during the quarter. 1832 Asset Management L.P.’s holdings in West Fraser Timber were worth $76,053,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of West Fraser Timber by 60.0% in the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of West Fraser Timber by 4.3% in the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock worth $353,000 after purchasing an additional 189 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of West Fraser Timber by 4.7% during the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock worth $328,000 after purchasing an additional 190 shares during the period. Bank of Nova Scotia Trust Co. grew its position in West Fraser Timber by 6.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after purchasing an additional 224 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in West Fraser Timber by 3.6% in the 1st quarter. Quantbot Technologies LP now owns 6,752 shares of the company’s stock valued at $584,000 after buying an additional 236 shares during the period. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

Shares of WFG opened at $95.11 on Monday. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $95.81. The company’s fifty day moving average is $86.28 and its 200-day moving average is $82.12. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of -78.60 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.09). The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. West Fraser Timber’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. Equities analysts expect that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, September 26th will be issued a $0.237 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 1.00%. West Fraser Timber’s dividend payout ratio (DPR) is currently -77.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WFG shares. Royal Bank of Canada boosted their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets boosted their target price on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, West Fraser Timber presently has an average rating of “Buy” and an average price target of $105.60.

West Fraser Timber Profile

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.